Analysis of the American trading session

During the American session on Monday, October 16, 2017, the US dollar strengthened its positions against most of the major currencies of the market. Because of the lack of a significant news background, support for the US currency was provided by positive data on production activity. According to published data, NY Empire State production activity index in October was 30.20, which is higher than the previous value at the level of 24.4, while analysts had expected the decrease to 20.70.

The British pound continued to decline against the US dollar during the US session, as negotiations on Brexit could end in disaster if the EU does not want to make concessions and conclude a trade deal with the UK. Also, later it became known that Theresa May, while at the negotiations in Brussels, did not begin to increase the offer for withdrawal from the EU. May proposes 20 billion euros, while Brussels insists on the amount of 60 billion euros.

Alexander Sivtsov